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Ascential acquires X Target in China, Intellibrand in Brazil
StockMarketWire.com
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Data and analytics company Ascential said it had acquired China-based Hangzhou Duozhun Data Technology, or X Target, for up to £55 million if 'very stretching' earnings targets were reached.
The company also had acquired Brazil-based Intellibrand, for an undisclosed sum. X Target was acquired for £11.9 million upfront, plus earn-out payments over three years that would give an estimated total acquisition sum, including the initial payment, of between £29 million and £35 million.
The total sum payable in the event that very stretching targets were reached was capped at £55 million.
The Chinese group specialised in media trading execution and provided similar capabilities for China as Ascential's Flywheel brand did for Western eCommerce platforms.
Intellibrand, based in Brazil, provided eCommerce analytics solutions for brands across Latin America. Intellibrand also enabled Ascential's digital commerce business to enter the food aggregation delivery measurement market globally. Both acquisitions were expected to complete in the first quarter 2021.
Story provided by StockMarketWire.com
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